Singapore’s total fertility rate falls to historic low in 2023

The Straits Times

28 Feb 202402:32

Summary

TLDRThe script addresses Singapore's declining total fertility rate (TFR), which has fallen to 0.97 in 2023, the first time below 1. It highlights the impact of fewer marriages and births, with societal and global factors contributing to the trend. The implications include smaller families, increased caregiving responsibilities, and a growing number of singles with weaker support networks. Economically, a shrinking workforce could lead to a less dynamic economy, challenges in attracting businesses, and fewer opportunities for the next generation, mirroring issues faced by countries like South Korea and Italy. The government is committed to tackling these demographic and economic challenges.

Takeaways

💒 Last year, there were 26,500 resident marriages in Singapore.
👶 30,500 resident births were welcomed in the same year.
📉 The number of resident marriages and births has decreased annually on average over the last 5 years compared to the previous period.
📊 The resident Total Fertility Rate (TFR) has continued to decline, reaching a preliminary estimate of 0.97 in 2023, the first time it has fallen below 1.
😷 COVID-19 has disrupted marriage plans for some couples, potentially delaying parenthood.
💰 Concerns about the financial costs of raising children, pressures to be an excellent parent, and difficulties managing work-life balance contribute to low fertility rates.
🌐 Low fertility in Singapore is part of a global phenomenon where individual priorities and societal norms have shifted.
👨‍👩‍👧‍👦 Families are smaller with more single-person households, leading to weaker familial support networks for the elderly.
💼 A falling TFR impacts the economy by creating a smaller workforce, affecting the country's dynamism and ability to attract global businesses.
🚀 The shrinking workforce poses challenges for maintaining economic growth and creating opportunities for the next generation.
🌍 Countries like South Korea and Italy are experiencing economic slowdowns and declining wages, partly due to low fertility and demographic changes.

Q & A

What is the core vision for the population mentioned in the transcript?
-The core vision for the population is strong and stable families.
How many resident marriages were there last year according to the transcript?
-There were 26,500 resident marriages last year.
What was the number of resident births welcomed last year?
-There were 30,500 resident births welcomed last year.
Has there been a change in the number of resident marriages and births over the past decade?
-Yes, there were fewer resident marriages and births annually on average over the last 5 years compared to the preceding 5-year period.
What is the current Resident Total Fertility Rate (TFR) for the year 2023?
-The Resident Total Fertility Rate (TFR) for 2023 is 0.97, which is the first time it has dropped below 1.
What are some of the reasons cited for Singapore's low fertility rate?
-Reasons for Singapore's low fertility rate include temporal factors like disrupted marriage plans due to COVID-19, financial costs of child raising, pressures to be an excellent parent, difficulties managing work and family commitments, and shifts in individual priorities and societal norms.
How does the low fertility rate reflect a global phenomenon?
-The low fertility rate reflects a global phenomenon where individual priorities and societal norms have shifted, leading to a decline in birth rates worldwide.
What are the societal impacts of the falling Total Fertility Rate (TFR) mentioned in the transcript?
-The societal impacts include smaller family sizes, more single individuals, weaker familial support networks for the elderly, and a growing proportion of Singaporeans remaining single.
How will the falling TFR impact Singapore's economy?
-The falling TFR will impact Singapore's economy by leading to a shrinking workforce, making it challenging to maintain economic dynamism, attract global businesses, and create opportunities for the next generation.
What are the experiences of countries like South Korea and Italy regarding low fertility and its economic effects?
-Countries like South Korea and Italy are grappling with economic slowdowns and declining wages, further compounded by low fertility and resulting demographic changes.
What is the government's stance on addressing the challenges posed by the declining TFR?
-The government is determined to address these challenges, recognizing the importance of a strong and vibrant economy driven by people and the need to tackle demographic changes.

Outlines

00:00

👨‍👩‍👧‍👦 Singapore's Population Challenges

The script discusses the critical issue of declining family stability and population growth in Singapore. It highlights that there were 26,500 resident marriages and 30,500 resident births last year, but these numbers have been on a downward trend compared to the previous five-year period. The total fertility rate (TFR) has dropped to 0.97 in 2023, marking the first time it has fallen below 1. Various factors contribute to this low fertility, including delayed parenthood due to COVID-19 disruptions, financial concerns, societal pressures, and changing individual priorities. The script also outlines the broader societal and economic implications of this demographic shift, such as smaller families, increased caregiving responsibilities, and a growing number of single Singaporeans with weaker support networks. The economic impact is significant, with a shrinking workforce posing challenges to maintaining economic dynamism, attracting global businesses, and creating opportunities for the next generation. The script concludes by emphasizing the determination to address these challenges, drawing parallels to the experiences of countries like South Korea and Italy, which are facing economic slowdowns and declining wages exacerbated by low fertility and demographic changes.

Mindmap

Keywords

💡Population Vision

Population Vision refers to a strategic outlook or plan for the growth and development of a country's population. In the context of the video, it emphasizes the importance of strong and stable families as the foundation of this vision. The script mentions that the core of the population vision are 'strong and stable families,' indicating the societal and economic goals set for a balanced and thriving population.

💡Resident Marriages

Resident marriages refer to the number of marriages registered within a country by its residents. The script provides a specific figure of '26,500 resident marriages' last year, which is an indicator of social trends and demographic changes. This number is significant as it reflects the current state of family formation and contributes to the overall population growth.

💡Resident Births

Resident births denote the number of babies born to residents within a country. The script mentions '30,500 resident births,' which is a key statistic for understanding population growth and family dynamics. This figure is essential for assessing the health of the population and the potential future workforce.

💡Total Fertility Rate (TFR)

Total Fertility Rate (TFR) is a demographic measure that indicates the average number of children a woman would have in her lifetime. The script highlights a 'resident TFR of 0.97 in 2023,' marking the first time it has dropped below 1, which is a critical threshold. This decline in TFR is a central theme of the video, indicating a potential future population decline and the challenges it poses.

💡Low Fertility

Low fertility is a demographic phenomenon where the number of children born per woman falls significantly below the replacement rate of 2.1. The script discusses various reasons for Singapore's low fertility, such as 'financial costs of child raising' and 'pressures to be an excellent parent.' This concept is central to understanding the challenges faced by the country in maintaining a sustainable population.

💡Covid-19 Disruptions

Covid-19 disruptions refer to the impact of the pandemic on various aspects of life, including marriage and family planning. The script mentions that 'couples had their marriage plans disrupted by covid-19,' which may have delayed parenthood plans. This is an example of how external events can influence demographic trends and population growth.

💡Work-Life Balance

Work-life balance is the equilibrium between an individual's professional and personal life. The script touches on the difficulties of managing 'work and family commitments,' which is a common challenge that can affect the decision to have children. This concept is relevant to the video's theme as it contributes to the overall understanding of why fertility rates are low.

💡Global Phenomenon

A global phenomenon refers to a widespread occurrence or trend that is observed across many countries. The script notes that low fertility 'reflects a global phenomenon,' where societal norms and individual priorities have shifted. This term helps to contextualize Singapore's situation within a broader international context.

💡Economic Impact

Economic impact refers to the effects that demographic changes can have on a country's economy. The script discusses how a 'shrinking workforce' due to low fertility rates will be 'increasingly challenging to maintain our dynamism, attract global businesses, and create opportunities for the next generation.' This concept is crucial for understanding the long-term implications of demographic trends on economic growth and stability.

💡Demographic Changes

Demographic changes refer to shifts in population characteristics such as age distribution, fertility rates, and mortality rates. The script mentions the impact of 'demographic changes' on countries like South Korea and Italy, which are experiencing economic slowdowns and declining wages. This concept is central to the video's narrative as it highlights the potential consequences of low fertility rates.

💡Addressing Challenges

Addressing challenges implies taking proactive measures to tackle problems or issues. The script concludes with a determination to 'address these challenges' posed by low fertility and demographic changes. This term encapsulates the video's call to action and the need for policy interventions to mitigate the negative effects on society and the economy.

Highlights

Core of population vision is strong and stable families.

26,500 resident marriages in the last year.

30,500 resident births welcomed.

Fewer resident marriages and births compared to the previous 5-year period.

Resident Total Fertility Rate (TFR) has declined.

TFR dropped below 1 for the first time in 2023.

Low fertility attributed to various temporal and societal factors.

Covid-19 disrupted marriage plans, affecting parenthood plans.

Financial costs and pressures of child raising are concerns.

Difficulties in managing work and family commitments.

Low fertility reflects a global phenomenon with shifted priorities and norms.

Impact of falling TFR on society with smaller families and more single Singaporeans.

Growing proportion of Singaporeans with weaker familial support networks.

Falling TFR will impact Singapore's economy with a shrinking workforce.

Challenges in maintaining dynamism and attracting global businesses.

Economic slowdowns and declining wages experienced by countries with low fertility.

Determination to address demographic and economic challenges.